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Wife retiring before me, but I have all the retirement

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ByDEH

L1: Wife retiring before me, but I have all the retirementHello all,Great site.My situation is this. I am 52 andmy postition was eliminated this past October, after being with the company for almost 32yrs. My wife is turning 62 next week and plans to retire from her job this coming January. She has basically no retirement money but I have a very nice chunk from my former job, in what used to be a fully funded profit sharing plan, but the past few years, they changed it to a 401k. I still plan on getting a job but I know realistically I won’t find one for the same pay, so I am considering the 72T to supplement my wages and her social security. My long winded question….. is there any way to roll my 401k into something using her age and thus, avoid the penalties, instead of doing the 72T. I’m pretty sure the answer is no, but it’s worth a try. Any recommendations and suggestions are appreciated.2009-12-14 01:35, By: DEH, IP: [24.206.128.87]
L2: Wife retiring before me, but I have all the retirementDEH:There’s no legal way to do what you’re suggesting. However, there may be a way to pull that money out, go ahead and pay what will likely be a lower tax bill and convert tha IRA the unused portion) into a tax-freeincome vehicle for yourself at retirement.2009-12-14 03:00, By: JKL, IP: [216.80.125.206]

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